[MsFocused26]

Would I credit accounts payable and credit supplies? Help please

[pready]

You would Debit Supplies and Credit Accounts Payable.

Here is a way to remember what types of accounts have a normal debit or credit balance.

D - Debit Balance
E - Expenses
A - Assets
D - Dividends

C - Credit Balance
U - Unearned Revenues
R - Revenues
L - Liabilities
S - shareholders Equity/ Owners Capital

A debit entry to an account with a normal debit balance will increaase the account balance, while a credit entry will decrease the account balance.

A credit entry to an account with a normal credit balance will inrease the account balance, while a debit entry will decrease the account balance.